Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 1

[NYcarbineer]

Not a point that really helps your argument. Yes sometimes credit card companies up your credit limit even if you have no intention of spending that much. Unlike that situation DOES intend to spend that money. There would be no other reason to raise the debt ceiling.

Congress needs to raise the debt ceiling in order to accommodate the paying of the bills that Congress created.

The debt ceiling is not being raised in anticipation of new spending legislation being passed.

you are wrong, thats not the way it works. Before the govt can authorize spending on any project---a bridge or an aircraft carrier, congress has to authorize and appropriate the funding for it i.e. the money has to be there to pay for the project.

the contract for the bridge has an accounting page on it that has a bunch of long numbers that indicate that the funding has been appropriated for that project. It used to be called a zipper sheet.

Raising the debt limit is to cover future spending because they know that there is not sufficient revenue to cover known expenditures.

We won't hit the new limit immediately, because it takes time for projects to get into the mill, but in a short time we will be up to the new debt limit, and the Chinese will have a lein on more and more of the USA.

If you can suspend or cancel enough bridge projects to save a trillion dollars over the next year, by all means, tell us what that plan is.

Or show us the Republican plan.

 

[Bern80]

Discovercard sent me a letter once telling me my credit limit had been increased. That was years ago. I have never been near that credit limit.

Not a point that really helps your argument. Yes sometimes credit card companies up your credit limit even if you have no intention of spending that much. Unlike that situation DOES intend to spend that money. There would be no other reason to raise the debt ceiling.

Congress needs to raise the debt ceiling in order to accommodate the paying of the bills that Congress created.

The debt ceiling is not being raised in anticipation of new spending legislation being passed.

We know. That wasn't your argument. Your argument was that it doesn't add to the debt, which we also know. We also know that you don't extend a debt limit when you have no intention of going further into debt.

 

[IlarMeilyr]

Not a point that really helps your argument. Yes sometimes credit card companies up your credit limit even if you have no intention of spending that much. Unlike that situation DOES intend to spend that money. There would be no other reason to raise the debt ceiling.

Congress needs to raise the debt ceiling in order to accommodate the paying of the bills that Congress created.

The debt ceiling is not being raised in anticipation of new spending legislation being passed.

We know. That wasn't your argument. Your argument was that it doesn't add to the debt, which we also know. We also know that you don't extend a debt limit when you have no intention of going further into debt.

That ^ is the very point and it warrants an instant replay:

We also know that you don't extend a debt limit when you have no intention of going further into debt.

It underscores how completely and intentionally disingenuous Obama and his spin-meisters are.

 

[Redfish]

Congress needs to raise the debt ceiling in order to accommodate the paying of the bills that Congress created.

The debt ceiling is not being raised in anticipation of new spending legislation being passed.

you are wrong, thats not the way it works. Before the govt can authorize spending on any project---a bridge or an aircraft carrier, congress has to authorize and appropriate the funding for it i.e. the money has to be there to pay for the project.

the contract for the bridge has an accounting page on it that has a bunch of long numbers that indicate that the funding has been appropriated for that project. It used to be called a zipper sheet.

Raising the debt limit is to cover future spending because they know that there is not sufficient revenue to cover known expenditures.

We won't hit the new limit immediately, because it takes time for projects to get into the mill, but in a short time we will be up to the new debt limit, and the Chinese will have a lein on more and more of the USA.

If you can suspend or cancel enough bridge projects to save a trillion dollars over the next year, by all means, tell us what that plan is.

Or show us the Republican plan.

Thats not the point. WE the people should force congress to do their job and balance the budget.

You seem to be saying that since neither party has the balls to do what is needed, then we should just continue growing the debt by a trillion a year forever. WTF?

 

[Foxfyre]

you are wrong, thats not the way it works. Before the govt can authorize spending on any project---a bridge or an aircraft carrier, congress has to authorize and appropriate the funding for it i.e. the money has to be there to pay for the project.

the contract for the bridge has an accounting page on it that has a bunch of long numbers that indicate that the funding has been appropriated for that project. It used to be called a zipper sheet.

Raising the debt limit is to cover future spending because they know that there is not sufficient revenue to cover known expenditures.

We won't hit the new limit immediately, because it takes time for projects to get into the mill, but in a short time we will be up to the new debt limit, and the Chinese will have a lein on more and more of the USA.

If you can suspend or cancel enough bridge projects to save a trillion dollars over the next year, by all means, tell us what that plan is.

Or show us the Republican plan.

Thats not the point. WE the people should force congress to do their job and balance the budget.

You seem to be saying that since neither party has the balls to do what is needed, then we should just continue growing the debt by a trillion a year forever. WTF?

Yes, if we the people do not force Congress to do its job, it won't get done. Again and again we send visionary men and women to Washington to represent us and do the right thing. But too often, those visionary people learn that they have to play by the rules there or they will be marginalized, demonized, and quickly forced out. For example, look what is happening to Ted Cruz now--his fellows are distancing themselves from him, the media is shredding him, and he is mostly standing alone speaking the right course of action and for doing the right thing.

The federal government has become the single most corrupting and evil influence in all of American history. Those who live within it, whether elected, appointed, or hired as bureaucrats and civil servants, are focused almost entirely on retaining their positions and increasing their power, prestige, influence, and personal fortunes. Everything else is secondary to that.

Until we take away the federal government's excessive power and bust it back to pre Teddy Roosevelt days government, the snowball will only keep rolling and growing until it is an unstoppable avalanche. Until we take away the federal government's ability to vote itself more and more money and power, it will get worse. Much worse.